<p>The decline in the economic growth has bottomed out, said the finance ministry on Friday as the GDP growth slowed to a nearly seven-year low of 4.7 per cent in the quarter ending December 2020.</p>.<p>The National Statistical Office (NSO) has, however, upwardly revised GDP growth estimates for the first quarter of 2019-20 to 5.6 per cent (from 5 per cent), and for the second quarter to 5.1 per cent (from 4.5 per cent).</p>.<p>"We have already bottomed out," said Economic Affairs Secretary Atanu Chakraborty while talking to reporters after the NSO released its data.</p>.<p>The NSO estimates the GDP growth for the whole fiscal at 5 per cent.</p>.<p>The secretary further said the growth in the core sector industries too has witnessed growth during the December and January which "augurs well" for the manufacturing sector during the January-March quarter of the fiscal.</p>.<p>On the deadly coronavirus impacting the global economy, he said "it is an unfolding story".</p>.<p>Shares of 2,011 BSE-listed companies ended in the red on Friday, as benchmark indices plummeted to nearly five-month lows on rising fears of the coronavirus outbreak turning into a pandemic and derailing global growth.</p>
<p>The decline in the economic growth has bottomed out, said the finance ministry on Friday as the GDP growth slowed to a nearly seven-year low of 4.7 per cent in the quarter ending December 2020.</p>.<p>The National Statistical Office (NSO) has, however, upwardly revised GDP growth estimates for the first quarter of 2019-20 to 5.6 per cent (from 5 per cent), and for the second quarter to 5.1 per cent (from 4.5 per cent).</p>.<p>"We have already bottomed out," said Economic Affairs Secretary Atanu Chakraborty while talking to reporters after the NSO released its data.</p>.<p>The NSO estimates the GDP growth for the whole fiscal at 5 per cent.</p>.<p>The secretary further said the growth in the core sector industries too has witnessed growth during the December and January which "augurs well" for the manufacturing sector during the January-March quarter of the fiscal.</p>.<p>On the deadly coronavirus impacting the global economy, he said "it is an unfolding story".</p>.<p>Shares of 2,011 BSE-listed companies ended in the red on Friday, as benchmark indices plummeted to nearly five-month lows on rising fears of the coronavirus outbreak turning into a pandemic and derailing global growth.</p>